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Follow the Candles

Hello,

This thread (and strategy) is interesting.

But for me it makes more sense to have the indicator showing the colour (bullish or bearish) of the previous (closed) candle of the respective period.
So the trader would choose the periods he/she wants to look at (MN, W1, D1, H4, H1, whatever), but the indicator would show the colour of the last closed candle of each of those periods.

I hope this is not a too big deviation from the thread's theme.

And I believe this is a relatively simple change to make on the indicator, for a coder.

So I ask, can some coder please make a new version of the first post indicator, so it incorporates this change?

Thank you.
Quoting FxMachina
Hello, This thread (and strategy) is interesting. But for me it makes more sense to have the indicator showing the colour (bullish or bearish) of the previous (closed) candle of the respective period. So the trader would choose the periods he/she wants to look at (MN, W1, D1, H4, H1, whatever), but the indicator would show the colour of the last closed candle of each of those periods. I hope this is not a too big deviation from the thread's theme. And I believe this is a relatively simple change to make on the indicator, for a coder. So I ask, can...
Hello FxMachina, I don't see how looking at the previous closed candles will be better than the current candle as we are looking at current price action not past price action. This looks like a clear deviation from the original strategy so if its something you would like to pursue please do so in your own thread. Cheers.
Truth is like poetry. And most people f*cking hate poetry.
mrdfx,

Do you mind answering my question here: https://www.forexfactory.com/showthr...0#post12580910
Quoting NoNonSenseFX
Here is my trades this week. I don't set SL, but I set a profit target for individual pairs and global target to close all trades when target meets. {image}
Hi NoNonSenseFX,

can you please tell us a bit more on individual profit target and global target you set ?
Porta itineris dicitur longissima esse
Quoting bubincka
{quote} Hi NoNonSenseFX, can you please tell us a bit more on individual profit target and global target you set ?
Individual pairs TP set to 50 pips. Global target depends on how many orders opened. Right now I set it to $200 with 0.1 lot size. Late last Sunday I entered a basket, some pairs hit tp early and the rest hit global target and all closed Monday morning. Total profit closed to $360. I entered basket not strictly according to original rules.
Quoting NoNonSenseFX
{quote} Individual pairs TP set to 50 pips. Global target depends on how many orders opened. Right now I set it to $200 with 0.1 lot size. Late last Sunday I entered a basket, some pairs hit tp early and the rest hit global target and all closed Monday morning. Total profit closed to $360. I entered basket not strictly according to original rules.
G'day,

Were you using your FollowcandleEA.ex4 ?
Stay green!!!
@mrdfx,ive been looking at your strategy and combining it with 'Monthly profit-Daily Trading using SMA' strategy the results are really encouraging,check out the other thread you could be on to something with this.thank you
Quoting nozzer
@mrdfx,ive been looking at your strategy and combining it with 'Monthly profit-Daily Trading using SMA' strategy the results are really encouraging,check out the other thread you could be on to something with this.thank you
How do you combine both strategy together ?
Hello Mrdfx, thanks for this strategy. I'm waiting for the EA. Pls don'nt put a time limit on it. You could find some other way to keep people away from commercializing it. I like to have an EA i can use forever. Thanks in advance.
Human is too lazy..Just wait for a day candle to close and after the first 2 hours to 4 hours ,watch an indicator and place trade which you are going to do it ones in a week yet people need monkeys and EA's to trade it..Shaking my head
Quoting kingpat
Human is too lazy..Just wait for a day candle to close and after the first 2 hours to 4 hours ,watch an indicator and place trade which you are going to do it ones in a week yet people need monkeys and EA's to trade it..Shaking my head
Yes, shaking my head. For some people that time is when they are dreaming $$$ in bed.
Quoting kingpat
Human is too lazy..Just wait for a day candle to close and after the first 2 hours to 4 hours ,watch an indicator and place trade which you are going to do it ones in a week yet people need monkeys and EA's to trade it..Shaking my head
Thanks for the compliment!
Quoting NoNonSenseFX
{quote} Yes, shaking my head. For some people that time is when they are dreaming $$$ in bed.
Interesting.
Quoting NoNonSenseFX
{quote} Individual pairs TP set to 50 pips. Global target depends on how many orders opened. Right now I set it to $200 with 0.1 lot size. Late last Sunday I entered a basket, some pairs hit tp early and the rest hit global target and all closed Monday morning. Total profit closed to $360. I entered basket not strictly according to original rules.
During my backtest on single EURUSD pair, start trading on Tuesday 3:05AM, 5.000 balance with initial 0.02 lotsize every 1.000, fixed TP in pips or %, fixed or % or no SL, force closure on Friday, I haven't reached good results from three years by now althought just positive. But, if I anticipate trade operativity to Monday evening and introduce multiple orders, results are better than expected with tolerable DD.
I'll continue testing ... maybe extending the operativity to all days just to find the best signal period.
Discipline and winning attitude
@dkarev, trade on the D1 candle ,if Week and Month candles is green on Trend indicator luxing Mod AUD indicator go long but only when the 5 SMA has gone through the D1 green candle ,D1 candle, if week and month candles are red on Trend Indicator luxing Mod AUD indicator go short but only when 5 SMA has gone through the D1 red candle...Trade at your own risk...Cheers :-]
Quoting nozzer
@dkarev, trade on the D1 candle ,if Week and Month candles is green on Trend indicator luxing Mod AUD indicator go long but only when the 5 SMA has gone through the D1 green candle ,D1 candle, if week and month candles are red on Trend Indicator luxing Mod AUD indicator go short but only when 5 SMA has gone through the D1 red candle...Trade at your own risk...Cheers :-]
OK,thankz I will definitely give it trial and get back to you.
hi, this is my result for first week that i tested this strategy. i opened my trades exactly the same as mrdfx except one pair (NZDCAD) that my broker didn't have it. i didn't set sl/tp manually but sl/tp was 5% of my account balance that didn't hit none of them, so i closed all trades today.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 18 KB
Here is my results from this week! I can't wait to test it out again next week
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB
Hi all, in screenshot is my result for first week.

I opened trades at 3:59 on Tuesday and I've activated a partial closing mechanism that closes trade with the biggest floating loss in case 10% DD is reached.
Therefore I closed the week at a score equal to -6% instead of -10%.

I attach the EA I've written where you can set among other params day, hour, minute for open & close your trades.
Attached Image (click to enlarge)
Click to Enlarge Name: mrdfx1stweek.png Size: 36 KB
Attached File(s)
File Type: ex4 MrdfxTradeManager_V2.ex4   22 KB | 562 downloads
Porta itineris dicitur longissima esse
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